Influencer marketing: Homophily,customer value co-creation behaviour and purchase intention

Given the rise in influencer marketing on social media, this paper explores how homophily between influencers and their audiences affects customer value co-creation behaviour, resulting in increased expected brand value and purchase intention. A sample of 910 respondents from the United States completed an online investigation. The results indicate that homophily positively influences customer value co-creation behaviour as well as positively correlates with expected brand value and purchase intention. Customer value co-creation behaviour plays a multi-mediating role. Para-social relationship moderates the relationship between homophily and customer participation behaviour. Overall, this study encourages further research on value co-creation in influencer marketing and can constitute a valuable reference for marketing practitioners and influencers.     

Engaging Customers through Social Media to Improve Industrial Product Development: The Role of Customer Co-Creation Value

This study aims to investigate the effect of social media on customer loyalty with the mediation of customer co-creation value and to build a customer engagement model through co-creation value, which is supported by product improvement perceived in increasing customer loyalty. The data collection employed a survey method with structured questionnaires which were distributed to 150 respondents who were the members of social media product communities in Indonesia. The findings showed that interactions through social media are able to increase customer engagement, facilitaitng collaboration in co-creation value, allowing the company to improve and develop products based on customers' needs and desires, which will eventually increase customer loyalty.     

Value co-creation and social media: Investigating antecedents and influencing factors in the U.S. retail banking industry

This study seeks to examine and unearth antecedents to co-creation behaviours within a U.S. retail banking context. A critical aspect for marketing managers and academics alike, co-creation has a strong influence on tangible factors such as profit and intangible factors such as referrals, satisfaction and feedback. Antecedents were identified as trust, customer engagement and participation attitude whilst social media usage was a consumer characteristic identified as influencing co-creation. Data was collected from 489 U.S. retail banking customers via an online survey. The data was analysed via structural equation modelling. The findings indicate that customer engagement influences trust, co-creation and participation attitude. Participation attitude was found to influence trust and co-creation but trust had no direct effect on co-creation. The study further found that social media usage intensity influenced co-creation behaviours. The findings contribute in three ways. First, this is one of the first studies to scrutinise participation attitude in an attempt to explain co-creation behaviours for U.S. banks over social media. Second, identification of precursors to value co-creation has been ascertained in a U.S. retail banking social media context. Third, the study additionally contributes to the findings that social media usage has a moderating effect in value co-creation and offers a potential segmentation strategy.     

Extending customer relationship management into a social context

Informed by the resource-based view, this study draws on customer relationship management (CRM) and value co-creation literature to develop a framework examining the impact of social networking sites on processes to manage customer relationships. Facilitating the depth and networked interactions necessary to truly engage customers, social networking sites act as a means of enhancing customer relationships through the co-creation of value, moving CRM into a social context. Tested and validated on a data set of hotels, the main contribution of the study to service research lies in the extension of CRM processes, termed relational information processes, to include value co-creation processes due to the social capabilities afforded by social networking sites. Information technology competency and social media orientation act as critical antecedents to these processes, which have a positive impact on both financial and non-financial aspects of firm performance. The theoretical and managerial implications of these findings are discussed accordingly.     

Effect of customer involvement on co-creation of services: A moderated mediation model

The study explored the influence of customer involvement on co-creation directly and indirectly through three customer engagement dimensions, namely identification, interaction, and absorption from lens of customer-dominant logic and stimulus-organism-response framework. Data were collected from 211 Chinese service customers in Hong Kong. Results of IBM SPSS PROCESS models showed that customer involvement influenced co-creation directly and indirectly through absorption and interaction, but not identification. Customer involvement was found to exert a greater impact on co-creation of services for those with a high rather than low relation orientation. Thus, service providers should utilize mass media effectively to arouse customers’ feelings of relevance and important of services to them. They should also interact with customers continuously through social media that can be enhanced by various kinds of immersion technology.     

“Towards a co-creation framework in the retail banking services industry: Do demographics influence?”

Although many firms profess to adopt a customer-centric approach many are yet to embrace the notion that value is not solely created within the boundaries of the firm, that it is created co-jointly with outside parties. As such, value co-creation has increasing importance in modern marketing, impulsed by Service-Dominant Logic. While co-creation is a hot-topic in the marketing literature, services marketing literature recognizes the impact of demographic characteristics in consumer behavior. However, literature analysing the effects of demographics in co-creations models is very scarce.Therefore, the aim of this paper is to examine a set of outcomes of co-creation (satisfaction, loyalty and WOM) from a customer perspective. More, this research also analyses the potential moderating effect of demographic characteristics such as gender and age in this co-creative framework.The results show that co-creation directly affects customer satisfaction, customer loyalty and WOM. Co-creation also results in increased levels of customer satisfaction, which in turn mediates the effect of co-creation on customer loyalty and positive WOM. Data also reveal different patterns of behavior depending on gender and age.This paper contributes to the understanding of co-creation from a customer viewpoint. Firms should strive to foster co-creation initiatives as this can lead to increased levels of customer satisfaction, more loyal customers and the possibility of attracting new customers through positive WOM by current customers. Customers databases must be segmented for higher levels of marketing campaigns efficiency.     

Two-sided effects of customer participation: roles of relationships and social-interaction values in social services

This research aims to extend customer participation and value co-creation theory to the social-services sector, where consumer choice is restricted. This study examines the relationship between the value creation of participation and customer satisfaction in social services. The perceived value corresponding to different types of relationships was divided into company–customer (relationship value) and customer–customer (social-interaction value). To test hypotheses, data were collected via an online survey of customers using child-care centers in Korea. The participating customers had children who attended day-care centers, and the proposed hypotheses were tested using structural equation modeling. Empirical result shows that customer participation as information resource and customer participation as co-developer affect the relationship and social-interaction values. The most important and interesting result is that the relationship value has a positive effect, but the social-interaction value has a negative one on customer satisfaction. These results suggest that customer participation in social services has both positive and negative outcomes, which means that the social-interaction value of co-creation does not always lead to customer satisfaction in a choice-limited service such as child care. This study explains a counterintuitive and interesting relationship between the social-interaction value and customer satisfaction by validating the moderating role of social network service-based interaction intensity in child-care services.     

More gain,more give? The impact of brand community value on users’ value co-creation

Users' value co-creation behaviors contribute to the prosperity of brand communities as well as brand performance. This article aims to answer a basic question: are brand community users who obtain more value from the brand community more willing to co-create value? If so, why and under what conditions? Drawing from reciprocity theory, this study proposes that information value and social value lead to value co-creation by evoking users' reciprocity norm, and this effect depends on their self-presentation in the community. Results based on structural equation modeling combining survey data and archival data largely validate this framework, revealing that the reciprocity norm mediates the influence of brand community value on value co-creation. Additionally, information value increases value co-creation only when the level of self-presentation is high, and the positive effect of social value is not altered by self-presentation. By uncovering the mechanism and boundary conditions of how brand community value affects users’ value co-creation behaviors, this study extends the current literature on value co-creation and provides important practical implications.     

Value co-creation among retailers and consumers: New insights into the furniture market

This paper aims to examine the applicability of a value co-creation framework that integrates the process view (customer, supplier and encounter value-creating processes), the actors’ view (the value facilitator and the value co-creator) and the role of customer knowledge in furniture retail stores using service-dominant (S-D) logic.We conducted multiple case studies to analyse retailers’ points of view and in-depth interviews to explore customers’ perspectives. Our research findings suggest that the proposed model can be effectively used to analyse value co-creation management in furniture firms, allowing researchers to identify the actions of retailers and customers and evaluate their matching. Even more importantly, this framework helps to foster value co-creation to increase the benefits for each participant during each stage of the relationship.     

企业支持行为有利于顾客参与价值创造吗?——来自在线定制行业的实证分析

企业支持行为对顾客参与价值共创作用的研究主要聚焦于企业支持行为对顾客参与共创水平的影响,而对顾客参与和服务结果之间关系的作用分析较少,也忽视了在线共创情景中顾客对服务结果贡献归因的差异。本研究以归因理论为基础,探讨在线价值共创过程中企业支持行为的作用,通过322份在线定制行业的顾客问卷分析,得出结论:在线共创情景中,顾客参与通过增强体验价值来提高服务满意度;感知企业支持在顾客参与和体验价值之间有显著负向调节作用;顾客对自身参与表现的满意程度和感知企业支持在顾客参与和体验价值之间有显著的联合调节效应,即顾客对自身参与表现的满意程度弱化了感知企业支持的调节效应。     

Getting Closer to the Consumer – How Nivea Co-Creates New Products

Co-creation has become a prevalent approach taken by innovation leaders to excel in innovation management and complement internal R & D activities. In this article the authors will introduce the cocreation process at Nivea and describe how Nivea co-developed a new deodorant with consumers. The focus will be on two different co-creation tools — the netnography method geared to gain consumer insights from social media and an online co-creation session to evaluate and further enrich ideas.     

基于顾客忠诚提升视角顾客合作创造与顾客导向比较研究

顾客忠诚重要性已被学者和企业管理者广泛接受,对于如何提升和维持顾客忠诚,以往的研究主要以顾客导向经营模式进行探讨,基于企业与顾客合作创造这一全新视角来研究顾客忠诚提升在中国尚属空白。这篇文章拟研究在顾客与企业角色变化环境下,传统模式企业与顾客合作创造在顾客忠诚营造方面实施的可行性比较,拟对企业战略发展做出指引。     

Value Co-Creation Processes—Early Stages of Value Chains Involving High-Tech Business Markets: Samsung–Qualcomm Semiconductor Foundry Businesses

Purpose: This research aimed to identify both the specialized resources and competences for value co-creation when the value co-creation phenomenon is extended to the early stage of the value chain. Further, it proposes a framework that can analyze the value co-creation process in the high-tech business-to-business (B-to-B) market.

Methodology/approach: The research methodology was based on building a theory from a case study. The qualitative data was coded based on the grounded theory coding after collecting data from multiple sources.

Findings: Four critical resource types (financial resources, knowledge resources, efficiency resources, and intellectual resources) and five competence types (relational capability, collaboration capability, strategic capability, innovation capability, and managing capability) were constructed as the principal factors for value co-creation at the early stage in the value chain within the high-tech B-to-B market. Among the four resources and five competences, intellectual resource and strategic capability associated with value co-creation were unique findings in our case research.

Research implications: Our results provided new insights, which the value co-creation can be extended to the early stages in the value chain, such as the research and development (R&D) stage, in the high-tech B-to-B market, whereas extant value research was more focused on the late stages of the value chain. The reciprocal value co-creation process, which used four resources and five competences of both the supplier and customer, was proposed as an integrated framework to co-create value at the early stage of the value chain within the high-tech B-to-B market.

Practical implications: A supplier’s R&D, marketing, manufacturing, planning departments and the customer can utilize the defined resources as well as competences at different stages of the value chain in order to co-create value and improve their performance. In particular, the marketing department of the supplier needs to turn their eyes to the early stages in the value chain so as to seek a value co-creation strategy.

Originality/value/contribution: A value co-creation strategy was sought from a different perspective, extending from a late stage to an early stage in the value chain of the high-tech B-to-B market. The integrated research framework, combining resources and competences of the supplier and customer, was established to analyze the value co-creation phenomenon.     

Internet Tool Use and Virtual Co-Creation in the Brazilian Construction Industry: Organizational Practices and Consumers' Personal Values

ABSTRACT

This article analyzes the use of Internet tools and virtual co-creation initiatives of firms ranked among the top 100 in the Brazilian building industry. The research was based on observation of the companies' websites and of 200 posts written by participants in a collaborative building project. Websites were observed for the way online interaction tools were aligned to their declared goals. Posts were analyzed using discourse analysis and coded on the basis of the list of values. Results show that only three companies use online tools for the purpose of co-creation and that customer enjoyment is the primary driver of co-creation.     

A conceptual framework of the antecedents of customer journey satisfaction in omnichannel retailing

In light of the complex customer behaviour and customer journeys in omnichannel retailing, this study aims to investigate customer co-creation behaviour, customer response and customer experiential values as critical aspects of the customer journey, and examine their impact on the level of customer journey satisfaction. The results confirmed the significance of all factors, except information seeking and arousal, in all phases and exploration in the post-purchase phase, on customer journey satisfaction. For a further examination, this study classified the participants into three different segments according to their journey pattern and scrutinised whether the impact of the three predictors of customer journey satisfaction varied across customer segments. The analysis showed that customer segments were fragmented. The impact of customer co-creation behaviour, customer response and customer experiential values on customer journey satisfaction varied across the three customer segments. A heatmap highlighted the most influential factors of each customer segment. The study yielded several theoretical contributions and insights into omnichannel customers for managers.     

Designing a customer retention plan

What is your company's customer retention rate? How many customers are price defectors? Have you identified barriers that prevent customers from switching to a competitor? In this article, the author outlines a game plan to increase customer retention.     

Identifying multi-channel value co-creator groups in the banking industry

The purpose of this paper is providing a value co-creation management framework in the banking industry using the data analysis. Moreover, a multi-channel segmentation approach will be developed in order to identify customer segments based on the use of each channel. Managing value co-creation can be defined as determining the channel that may be used by the customer and the kinds of encounters that lie in these channels to have different impacts on the customer for various types of encounters. The model is built on the basis of the related literature and the collaboration of a Customer Relationship Manager in a large bank in Iran. Then, a multi-channel segmentation model is developed based on the RFM variables of the five banking channels for each customer. Next, about 11,000 customers of the bank is segmented by comparing the k-means and DBSCAN algorithms. Finally, by adapting customer segments on the value co-creation framework, three general groups are identified based on the type of encounter that lies in each channel. Moreover, twenty-seven small groups are recognized based on the desirability of the customer use of the channels.     

Breathing Down Your Neck!: The Impact of Queues on Customers Using a Retail Service

While a rich body of research has examined the psychological costs and benefits of queuing, this research focuses on the customer currently using a retail service and examines how this customer is affected by lines forming at his or her back. Drawing on Social Impact Theory, we postulate that customers feel pressured by people waiting behind them and that this feeling of social pressure leads to more negative affective experiences, poorer participation in co-creation settings, and lower perceptions of service quality. Five field and controlled experimental studies tested these predictions and also explored how retailers can reduce the adverse impact of queues. Studies 1A and 1B show that the customer’s experience deteriorates as queue length increases and that perceptions of social pressure mediate this effect. Studies 2A and 2B show that this effect is moderated by customers’ own waiting time such that customers are more affected by queues forming at their backs when their own waiting time decreases. Finally, study 3 identifies two strategies to attenuate the negative effects of waiting lines, namely explicitly reassuring the focal customer that she need not feel pressured to be efficient and removing the waiting customers from the line of vision of the focal customer.     

共享服务系统体验价值共创行为的影响因素

由于共享经济的发展和信息技术的进步,共享服务系统中的共创行为变得越来越容易实现,消费者与企业协作共创价值成为新的发展趋势。在消费者需求和共享行为都不断变化的情况下,如果共享服务供应商不清楚何种因素能够加速消费者价值共创行为的生成,则会影响共创价值实现。基于服务主导逻辑的理论,构建共享服务系统体验价值共创行为及其影响因素的理论模型。依据收集的450份有效问卷,对数据进行分析后发现,共享服务系统中感知利益、感知信任和社会可持续性通过互动协作(价值共创过程)对顾客体验价值产生影响,顾客体验价值对顾客的价值共创行为意向产生影响。研究结果表明,顾客参与共创动机中的效益动机和信任动机显著正向影响互动协作,互动协作显著正向影响体验价值和共创行为意向,而体验价值在互动协作和共创行为意向之间起到显著部分中介作用。共享服务提供方和产品制造方应多从顾客视角考虑其效益需求和信任需求,定位顾客需求和偏好,提供更有吸引力和说服力的商品与服务,使顾客感知到更多的收益,并形成较高信任度;提升与顾客的互动水平,建立顾客对服务方的好感,激发顾客更多的主动交互行为、参与行为和个人创新行为;重视资源的整合、分配和调动,实行以顾客驱动为核心的开放创新模式;招募优质用户,通过倾听和观察了解其价值主张,促进价值共创行为的生成,改善共享服务系统的整体服务质量。     

Branding co-creation with members of online brand communities

This article looks at the co-creation of value in the branding process with members of online communities. Three online communities in Iran are analyzed through 45 interviews with members along with three interviews with top managers of the three brands of these communities. A content analysis shows a clear process in that the social interactions of customers in online brand communities with their favorite brands help develop relationship quality and increase customer brand loyalty. The findings suggest that firms may develop their branding strategies using social media and online brand communities through relationship marketing by using an online co-creation strategy. The findings also serve to inform practitioners of the impact of social media on branding and how they can best facilitate these brand relationships.